cryptopious

Are we in a big rising wedge?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Neither long nor short as even if this wedge is valid, bitcoin has broken out of bearish rising wedges before.

Comments

I don't think you are accounting for the parabola on wave 5. You need to adjust your top wedge line down to the $5800 double top on your graph which will take you to $12K area. We will have a bit of a correction at $1oK area with a follow up to the $12,700 area before a correction to the mid $7,000 range. The we will go back up to the $11K which will give us a 2nd and more major correction down the $4900 area. I just got PRO up and running here, I will post a chart on this next week, look for me.
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hyipster CrytpoKotter
@CrytpoKotter, it looks like you're right ! I'll be following you ;)
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cryptopious CrytpoKotter
@CrytpoKotter, thanks!
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I am counting 5 of 5 Elliot waves. It seems to do a new ATH and go to a correction like in July, and TD Sequential Indicator show us 8 of 9 weeks just one step of a reversal.
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@Heglyn, yeah i think bitcoin needs a correction, but i've been saying this for 2 weeks now...
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